While major hotel brands have pulled back from large-scale convention hotels in favor of asset-light growth, Omni Hotels & Resorts is doing the opposite. Omni Hotels & Resorts is still building and, in many cases, owning these convention hotels.
Dallas-based company, The Dallas Company, plans to invest $1.5 billion in development and renovations within the next five year. Kurt Alexander, the president of the company, framed this figure as a part of a long-term strategy.
Alexander, referring both to renovations as well as new constructions, told Skift that the average annual cost of these projects was between $200 and 300 million dollars. It speaks to our commitment in elevating our brand, both with existing properties and adding new ones.
Omni remains committed to the vertical integration model. The majority of the company’s 50 properties are owned by Omni, which also manages all operations. More than 35 designers and contractors work for the company, focusing on details that are visible to guests. This includes everything from restaurant seating to room layouts.
Alexander said, “We’re the owner-operator company brand. We are really the last players in this regard.”
